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Acme International Holdings Limited ( (HK:1870) ) has shared an announcement.
Acme International Holdings Limited has completed a placing of 30 million new shares under its general mandate, increasing its issued share capital by about 2.95% following the allotment to at least six independent investors at HK$0.55 per share. The transaction raised gross proceeds of HK$16.5 million, with net proceeds of approximately HK$16.1 million to be used 40% for developing its electricity trading and green power projects in the PRC and 60% for general working capital, slightly diluting existing shareholders while broadening its investor base without creating any new substantial shareholder.
The most recent analyst rating on (HK:1870) stock is a Hold with a HK$0.53 price target. To see the full list of analyst forecasts on Acme International Holdings Limited stock, see the HK:1870 Stock Forecast page.
More about Acme International Holdings Limited
Acme International Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands, with a diversified business that now includes an expanding focus on electricity trading and related green power energy projects in mainland China.
Average Trading Volume: 4,375,163
Technical Sentiment Signal: Hold
Current Market Cap: HK$533.1M
For a thorough assessment of 1870 stock, go to TipRanks’ Stock Analysis page.